So you're an American living abroad. You have a bank account in another country because, you know, you live there. You buy groceries with it. You pay rent. Normal stuff.
But the US government would like you to know that they are very interested in your foreign bank account. Not necessarily to tax it, mind you — just to... know about it. Track it. Keep tabs. The IRS requires you to report the peak value of every foreign financial account you hold during the year via FBAR (FinCEN Form 114). And if your accounts cross certain thresholds, you get to fill out FATCA Form 8938 too. Fun!
So you think, okay, I'll just ask my bank what my maximum balance was this year. Simple question, right?